ME8U Stock Analysis: Mapletree Industrial Trust | SG
REIT - Industrial | SG, Singapore | Market Cap: 5.539m SGD | 12M Return: 1.7% | Charts, Fundamentals & Technical Analysis
Avg Turnover: 13.5M
EPS Trend: -75.6%
Qual. Beats: -1
Rev. Trend: 68.4%
Qual. Beats: -2
Warnings
No concerns identified
Tailwinds
No distinct edge detected
Seasonality 10.5 years of data
How good or bad each month usually is (without trend). The score below shows how much you can trust it: 0 = pure chance, >40 gets interesting and >55 is strong.
Mapletree Industrial Trust (MIT) is a real estate investment trust (REIT) listed on the Main Board of the Singapore Exchange, focused on income-producing industrial real estate. Its investment strategy centres on a diversified portfolio of industrial properties in Singapore and data centres outside Singapore, alongside real estate-related assets. As a Singapore-listed REIT, MIT is required to distribute at least 90% of its taxable income to unitholders to qualify for tax transparency treatment under Singapores REIT regime.
As at 31 March 2026, MITs total assets under management stood at S$8.3 billion, comprising 55 properties in North America (including 13 data centres held through a joint venture with Mapletree Investments Pte Ltd), 79 properties in Singapore, and two properties in Japan. The portfolio spans four property segments: Data Centres, Hi-Tech Buildings, Business Space, and General Industrial Buildings. Revenue is generated primarily through long-term leases with corporate tenants, a model common to industrial REITs that provides relatively stable rental cash flows.
MIT is managed by Mapletree Industrial Trust Management Ltd. and sponsored by Mapletree Investments Pte Ltd. The trust was incorporated in 2008 in Singapore. It is classified under the GICS Industrial REITs sub-industry within the Real Estate sector.
- Data centre segment expansion accelerates AI-driven revenue growth
- Higher interest rates pressure distribution yields and refinancing costs
- Singapore industrial portfolio occupancy remains resilient above 90%
| Net Income: 184.7m TTM > 0 and > 6% of Revenue |
| FCF/TA: 0.05 > 0.02 and ΔFCF/TA -0.19 > 1.0 |
| NWC/Revenue: -62.72% < 20% (prev -89.34%; Δ 26.62% < -1%) |
| CFO/TA 0.05 > 3% & CFO 433.6m > Net Income 184.7m |
| Net Debt (5.93m) to EBITDA (444.3m): 0.01 < 3 |
| Current Ratio: 0.23 > 1.5 & < 3 |
| Outstanding Shares: last quarter (2.85b) vs 12m ago 0.23% < -2% |
| Gross Margin: 64.37% > 18% (prev 64.33%; Δ 0.04% > 0.5%) |
| Asset Turnover: 7.79% > 50% (prev 7.73%; Δ 0.06% > 0%) |
| Interest Coverage Ratio: 5.00 > 6 (EBIT TTM 444.3m / Interest Expense TTM 88.9m) |
| A: -0.05 (Total Current Assets 120.0m - Total Current Liabilities 528.7m) / Total Assets 7.94b |
| B: 0.53 (Retained Earnings 4.17b / Total Assets 7.94b) |
| C: 0.05 (EBIT TTM 444.3m / Avg Total Assets 8.37b) |
| D: 1.95 (Book Value of Equity 5.24b / Total Liabilities 2.69b) |
| Altman-Z'' = 3.78 = AA |
| DSRI: 0.38 (Receivables 1.75m/4.83m, Revenue 651.6m/680.3m) |
| GMI: 1.00 (GM 64.33% / 64.37%) |
| AQI: 1.00 (AQ_t 0.98 / AQ_t-1 0.98) |
| SGI: 0.96 (Revenue 651.6m / 680.3m) |
| TATA: -0.03 (NI 184.7m - CFO 433.6m) / TA 7.94b) |
| Beneish M = -3.57 (Cap -4..+1) = AAA |
As of July 06, 2026, the stock is trading at SGD 1.94 with a total of 9,922,600 shares traded. Over the past week, the price has changed by +0.00%, over one month by +0.00%, over three months by +0.55% and over the past year by +1.74%.
Current recommended Stop Loss: 1.80 (which is 7.2% or 7 ATR below the current price).
Mapletree Industrial Trust has no consensus analysts rating.
P/E Trailing = 27.7143
P/E Forward = 15.6495
P/S = 8.23
P/B = 1.0563
P/EG = 1.2271
Revenue TTM = 651.6m SGD
EBIT TTM = 444.3m SGD
EBITDA TTM = 444.3m SGD
Long Term Debt = 1.86b SGD (from longTermDebt, last quarter)
Short Term Debt = 393.2m SGD (from shortLongTermDebt, last quarter)
Debt = 101.1m SGD (Leases only: 101.1m)
Net Debt = 5.93m SGD (calculated: Debt 101.1m - CCE 95.2m)
Enterprise Value = 5.54b SGD (5.54b + Debt 101.1m - CCE 95.2m)
Interest Coverage Ratio = 5.00 (Ebit TTM 444.3m / Interest Expense TTM 88.9m)
EV/FCF = 12.79x (Enterprise Value 5.54b / FCF TTM 433.5m)
FCF Yield = 7.82% (FCF TTM 433.5m / Enterprise Value 5.54b)
FCF Margin = 66.52% (FCF TTM 433.5m / Revenue TTM 651.6m)
Net Margin = 28.34% (Net Income TTM 184.7m / Revenue TTM 651.6m)
Gross Margin = 64.37% ((Revenue TTM 651.6m - Cost of Revenue TTM 232.2m) / Revenue TTM)
Gross Margin QoQ = 62.96% (prev 65.13%)
Tobins Q-Ratio = 0.70 (Enterprise Value 5.54b / Total Assets 7.94b)
Interest Expense / Debt = 87.93% (Interest Expense 88.9m / Debt 101.1m)
Taxrate = 25.08% (61.9m / 246.8m)
NOPAT = 332.9m (EBIT 444.3m * (1 - 25.08%))
Current Ratio = 0.23 (Total Current Assets 120.0m / Total Current Liabilities 528.7m)
Debt / Equity = 0.02 (Debt 101.1m / totalStockholderEquity, last quarter 5.24b)
Debt / EBITDA = 0.01 (Net Debt 5.93m / EBITDA 444.3m)
Debt / FCF = 0.01 (Net Debt 5.93m / FCF TTM 433.5m)
Total Stockholder Equity = 5.17b (last 4 quarters mean from totalStockholderEquity)
RoA = 2.21% (Net Income 184.7m / Total Assets 7.94b)
RoE = 3.58% (Net Income TTM 184.7m / Total Stockholder Equity 5.17b)
RoCE = 6.33% (EBIT 444.3m / Capital Employed (Equity 5.17b + L.T.Debt 1.86b))
RoIC = 4.51% (NOPAT 332.9m / Invested Capital 7.38b)
WACC = 6.27% (E(5.54b)/V(5.64b) * Re(6.38%) + (debt cost/tax rate unavailable))
Discount Rate = 6.38% (= CAPM, Blume Beta Adj.)
Shares (quarterly) Correlation: 100.00 | Cagr: 2.60%
[DCF] Terminal Value 73.48% ; FCFF base≈459.0m ; Y1≈411.0m ; Y5≈346.3m
[DCF] Fair Price = 1.93 (EV 5.53b - Net Debt 5.93m = Equity 5.52b / Shares 2.86b; r=8.35% [WACC [floored]]; 5y FCF grow -12.84% → 2.50% )
EPS Correlation: -75.65 | EPS CAGR: -9.01% | SUE: -2.16 | # QB: -1
Revenue Correlation: 68.38 | Revenue CAGR: 2.08% | SUE: -3.77 | # QB: -2
EPS current Quarter (2026-09-30): EPS=0.03 | Chg30d=N/A | Revisions=-25% | Analysts=3
EPS current Year (2027-03-31): EPS=0.12 | Chg30d=-4.74% | Revisions=-55% | GrowthEPS=+7.5% | GrowthRev=-4.2%
EPS next Year (2028-03-31): EPS=0.12 | Chg30d=-5.38% | Revisions=-70% | GrowthEPS=+2.1% | GrowthRev=+2.2%
[Analyst] Revisions Ratio: -74% (up=1, down=15)